As of 2023, Wool Yarns Sales in the US stood at $168.64 million. The actual data from 2013 to 2023 reveals a fluctuating trend with key variations. Between 2013 and 2014, the market saw a considerable growth of 10.59%. This was followed by a decline in 2015 and 2016, showing a steep reduction of 7.63% and 6.81% respectively. Stronger recovery was observed from 2017 onwards, highlighted by a growth of 4.93% in 2017 and further increments in the following years, despite some minor declines in 2020 (-3.81%). The last recorded year-on-year growth in 2023 was modest at 1.13%, while the 5-year CAGR from 2018 to 2023 stands at 1.21%.
Looking ahead from 2024 to 2028, the forecast suggests steady growth with a forecasted 5-year CAGR of 0.9%, accumulating to a total growth rate of 4.57% over this period, indicating a moderate but stable market expansion. Future trends to watch include the potential impacts of sustainable and ethical production practices, advancements in wool yarn technology, and changes in consumer preferences towards natural fibers which could further influence market dynamics.
-2013: $156.87M, +28.96% YoY, -
-2014: $173.48M, +10.59% YoY, -
-2015: $160.24M, -7.63% YoY, -
-2016: $149.33M, -6.81% YoY, -
-2017: $156.69M, +4.93% YoY, +5.2% 5-Year CAGR
-2018: $158.79M, +1.34% YoY, +0.24% 5-Year CAGR
-2019: $160.84M, +1.29% YoY, -1.5% 5-Year CAGR
-2020: $154.71M, -3.81% YoY, -0.7% 5-Year CAGR
-2021: $164.82M, +6.54% YoY, +1.99% 5-Year CAGR
-2022: $166.75M, +1.17% YoY, +1.25% 5-Year CAGR
-2023: $168.64M, +1.13% YoY, +1.21% 5-Year CAGR
-2028: Forecast 5-Year CAGR: +0.9%, Forecast 5-Year Growth Rate: +4.57%
Future trends to watch for:
- Impacts of sustainable and ethical production practices
- Advancements in wool yarn technology
- Changes in consumer preferences towards natural fibers
